Compare Today’s Mortgage Rates for Franklin, Michigan
Pureloan searches mortgage lenders and major banks in Franklin, Michigan 48025 finding the best mortgage rates. We also provide a list of the best mortgage brokers in your area and an analysis of your future home loan payments. For a 30-year fixed loan, lifetime cash savings of $87,987 or $244 / month is expected in Franklin and other areas of Oakland county.
Pureloan’s search engine explores all home mortgage options in Franklin, Michigan 48025, including fixed rate, adjustable rate (ARM), FHA, VA, USDA, conventional, jumbo and conforming home mortgages.
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Summary of Average Mortgage Terms in Franklin, Michigan 48025
Rate
APR
Expected Savings
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Total Closing Costs
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Interactive Mortgage Rate Projections for Franklin, MI
To forecast and predict mortgage rates in Franklin, MI 48025, Pureloan has created an interactive chart to track the 5 largest nationwide lenders. Historical rates are based on closed mortgage financings, and projections are based on proprietary modeling.
Historical Mortgage Rates for Franklin, Michigan 48025 from 2014 - 2021
We have compiled mortgage rate charts for home loans in Franklin, Michigan and around Oakland county to help you understand trends for your home purchase process. This data is produced from actual closed loans.
| 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | |
|---|---|---|---|---|---|---|---|---|
| % 30 year fixed mortgage | 86.08% | 83.00% | 84.38% | 87.84% | 89.13% | 89.26% | 89.76% | 88.17% |
| avg mortgage rate | 5.07% | 4.79% | 3.97% | 4.11% | 4.54% | 4.23% | 4.02% | 4.23% |
| % 15 year fixed mortgage | 12.03% | 13.88% | 12.88% | 10.70% | 9.53% | 9.05% | 8.54% | 10.47% |
| avg mortgage rate | 4.43% | 4.06% | 3.29% | 3.31% | 3.58% | 3.37% | 3.18% | 3.40% |
| Avg credit score | 761.24 | 764.56 | 762.02 | 757.46 | 752.75 | 749.21 | 747.88 | 746.47 |
| Avg LTV (loan to value) | 76.88% | 78.57% | 81.21% | 82.38% | 83.35% | 83.55% | 83.55% | 82.93% |
| Avg DTI (debt to income) | 32.42 | 31.68 | 31.69 | 32.19 | 33.12 | 33.15 | 33.88 | 34.39 |
| % First time homebuyer | 33.89% | 30.18% | 28.28% | 35.82% | 41.22% | 40.53% | 41.02% | 39.25% |
| Avg mortgage insurance % | 4.08% | 5.63% | 9.53% | 10.97% | 13.12% | 13.43% | 13.38% | 12.57% |
Data produced from the Financial Report of the US Government
Best Mortgage Brokers Around Franklin, Michigan 48025
If you’re looking to buy a new home in Franklin, we have compiled a list of the leading mortgage brokers around Franklin, Michigan 48025 to help you with your search.
Name
Address
Contact
Schreiber Harold
26160 Hawthorne Dr
Franklin MI 48025
(248) 626-6450
Express Lawsuit Funding
30150 Telegraph Rd
Bingham Farms MI 48025
(248) 865-2500
http://www.expresslawsuitfunding.com
Direct Capital Funding
30200 Telegraph Rd
Bingham Farms MI 48025
(248) 530-5600
Remington Mortgage
31100 Telegraph Rd
Bingham Farms MI 48025
(248) 799-5120
http://www.remingtonloan.com
Mortgage U
30300 Telegraph Rd
Bingham Farms MI 48025
(248) 290-2525
kathy@mortgage-u.com
Address
26160 Hawthorne Dr
Franklin MI
Contact
(248) 626-6450
Address
30150 Telegraph Rd
Bingham Farms MI
Contact
(248) 865-2500
http://www.expresslawsuitfunding.com
Address
30200 Telegraph Rd
Bingham Farms MI
Contact
(248) 530-5600